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Fox Reports on New Program to Boost U.S.-Mexico Trade

10 February, 2013

Fox News reports that a delegation gathered in Mexico City recently to discuss the new U.S.-Mexico Facilitation Program,which is designed to farther strengthen the economic ties between these two nations. The program will reportedly increase trade and create new jobs in both countries,in part by speeding up the visa process for employees of key businesses.

“Under past administrations certain areas have been sort of off-limits to U.S. businesses,” shared Enrique Alvarez,who is head of Latin America fixed-income research at IdeaGlobal in New York. “Now that a new administration is in place in Mexico,the U.S. wants to learn more about what the inner workings are and what the real aims are.”

The delegation met with top economic officials from President Enrique Peña Nieto’s administration,in addition to a variety of Mexican business and organization leaders. In addition to developing new economic ties,the program hopes to strengthen diplomatic relations between the U.S. and Mexico. Fox also reported that the new U.S.-Mexico Facilitation Program is likely to be very beneficial to Mexico,since the relationship between the two countries will continue to strengthen. 

“Mexico’s economy is growing at a rate of four percent a year,according to the International Monetary Fund – that’s a faster rate than Brazil,” writes Fox. “Mexico is the biggest exporter in Latin America. Over 80 percent of the country’s exports are sent to the United States.”

Add to this the fact that trade between the two countries reached close to $460 billion in 2012 alone,and that within the next decade Mexico is expected to surpass Brazil,which is Latin America’s current leading economy,and it’s easy to see why Mexico real estate has become such a hot commodity. In fact,trade between the U.S. and Mexico has reportedly more than quadrupled since the signing of the North American Free Trade Agreement (NAFTA) in 1994 and currently makes up more than 13 percent of the total goods that are traded annually between the U.S. and any other country.